Blog3 Renova Toilet Paper

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Submitted By fishertai
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Blog 3: Renova Toilet Paper - Targeting a New Market Segment

In response to the growing trend of innovation, companies are starting to take on significant risks to develop a new product that is able to target new market segments. Renova is one of these daring companies to innovate toilet paper, which has always been considered to be a conservative and dull product, by making it colorful and appealing to its consumers for the first time. I am very interested in this topic because it is fascinating to discover companies presenting their innovative products in the market and observe how it affects consumers, especially products that are extremely creative and unthinkable. I was intrigued by how the company became successful in changing the formation and character of toilet paper as ordinary and cheap to a luxury and entertaining product. I would research further into the consumer’s insight on the product and compare the pre-purchase to the post-purchase behaviors. This will answer the question on whether Renova was the first to create a new market segment that no paper industries are able to target.

A brief history of Renova is that it is a well-known industry in Portuguese that primarily produces tissues and toilet paper. It is a small industry compared to other leading brands such as Procter & Gamble and Kimberly Clark, but Renova is highly recognized for its unique innovation on its products that differentiate them from its competitors. Renova introduced the first black toilet paper in 2005 and it is priced at around 8 Euros for 3 rolls which is considered to be a luxury product. The Renova Black has become a large attraction in the global market and increased sales exponentially. Currently, Renova is expanding its product line of luxury products and changing consumer’s views of toilet paper.

In my perspective, I would imagine colorful toilet paper at a…...

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